Boat ownership transfer in Canada isn’t an overly difficult process but must be done properly to be valid and legal. If you are selling your boat, it’s vital to complete the documentation process in a timely manner, as ownership must be up to date anytime the boat is out on the water. The good news is that you can complete the entire process, including paying the associated fees, online, making it fast and efficient. Here’s what you need to know to get the task done.
Be Sure Your Bill of Sale is Ready to Go
Part of a transfer to boat ownership is the bill of sale. This document proves the sale is taking place and serves as proof of the transaction from one owner to another. To complete a transfer of ownership request, the bill of sale must be provided. Ensure you fill it out completely, validate it correctly, and format it accurately.
Important details to include are the seller’s name and contact information, the buyer’s name and contact information, and the price of the vessel. The bill of sale should also include information about payment plans or deferred payments, so everyone involved in the transaction knows exactly how it’s working.
Filing for a Transfer of Ownership
Once you have the bill of sale in order and ready to go, it’s time to file for a transfer of ownership. This legally removes you as the owner from all official documentation and adds the new owner in your place. The process is fairly simple. Gather all of the relevant information pertaining to the vessel, then simply fill out the form online.
Be sure you check and double check all of the details provided. That way you avoid the risk of submitting an incorrect or incomplete application, which can prolong the process and cost you additional money in fees or penalties. After you submit the request, we will process the paperwork and provide new and updated documents.
Tips for Boat Ownership Transfer in Canada
Therefore, one of the best things you can do when completing a transfer of ownership is to be sure all of the paperwork is correct. In addition, be sure that both parties involved are able to review the details. Ensure that both of you are aware of the sale and the parameters that go with it. This reduces the risk of needing legal assistance later and ensures that both parties agree to the sale and the way it’s going to work.
It is advisable to keep all relevant documentation on your boat in a clean, dry, and easily accessible place. Not having your paperwork on board can lead to fines and penalties you want to avoid. Some boat owners also store backup copies on dry land in case the papers get lost or damaged.
Let the Canadian Vessel Registry help your boat ownership transfer in Canada completed. Contact us today to get started.
